Shinhan Bank Secures Guro-gu Treasury Following Eunpyeong-gu

Shinhan Bank Wins Eunpyeong-gu Custody Bank Operation Selection on the 7th and Also Triumphs in Guro-gu Custody Bank Competition on the Afternoon of the 16th

[Asia Economy Reporter Park Jong-il] Shinhan Bank is drawing attention by securing the district treasury positions not only in Eunpyeong-gu but also in Guro-gu among the 25 autonomous districts of Seoul.

Shinhan Bank won the public competition for the Eunpyeong-gu district treasury selection held on the 7th, and subsequently won again in the Guro-gu district treasury selection competition held from 2 p.m. on the 16th.

Guro-gu (District Mayor Moon Heon-il) announced on the district office website on the same day the “Seoul Special City Guro-gu District Treasury Designation Result Notice,” selecting Shinhan Bank as the designated financial institution.

Accordingly, Shinhan Bank will be responsible for various duties over four years from January 1, next year, to December 31, 2026, including ▲ collection of various revenues such as city and district taxes and payment of expenditures ▲ receipt and payment of cash other than revenues and expenditures, handling and safekeeping of securities ▲ safekeeping and management of idle funds ▲ and other treasury-related tasks deemed necessary.

Having been selected as the treasury operator for both Eunpyeong-gu and Guro-gu, Shinhan Bank is expected to gain a favorable position in the upcoming competition for district treasuries among the 25 autonomous districts of Seoul.

This is because Shinhan Bank was selected as the Seoul city treasury bank four years ago and was also chosen as the Seoul city treasury (operator of the 1st and 2nd funds) in the Seoul city treasury selection held last April, securing a strategic advantage.

In particular, as Shinhan Bank became the operating financial institution for the Seoul city treasury, it invested heavily in developing a computerized system, highlighting the merit of unifying the computer systems between Seoul city and the 25 autonomous districts.

Leveraging its experience operating the Incheon city treasury, Shinhan Bank entered Seoul for the first time by becoming the district treasury bank for Yongsan-gu during the 7th local government term, demonstrating its strength by securing the Seoul city treasury and subsequently winning multiple district treasuries.

A Shinhan Bank official analyzed the reason for their success, saying, “The treasury management computerized system is excellent, having operated the Seoul city 1st and 2nd treasuries and the Incheon city treasury, and the alignment of city and district treasuries enhances work efficiency.”

They added, “Above all, the fund accident prevention system is more perfectly established than other banks, which has also received favorable evaluations.”

The 25 autonomous districts of Seoul are scheduled to select their district treasuries from early September through October.

Meanwhile, Shinhan Bank currently operates district treasuries for five autonomous districts including Yongsan-gu, Seongdong-gu, Seocho-gu, Gangnam-gu, and Gangbuk-gu, and has now secured Eunpyeong-gu and Guro-gu as well. Woori Bank operates 18 districts, and KB Bank operates 2 districts.

This content was produced with the assistance of AI translation services.